The tenth edition of the Global Innovation Index 2017 (GII 2017), themed “Innovation Feeding the World” was presented last week at the United Nations in Geneva. The Index measures the innovation capacity and performance of global economies by surveying 130. With no other comparable base of data over a period of ten years, the GII is used by several countries as a guide for national investment polices, according to Soumitra Dutta, dean of Cornell Business School.
This year’s index lists Switzerland, Sweden, the Netherlands, the United States and the United Kingdom as the five most innovative countries. High-income economies hold 24 of the top 25 places, 15 of which are European countries.
“We continue to learn from the example of Switzerland”
Switzerland leads the rankings for the seventh year in a row. The innovation powerhouse has held the first spot since 2011. "Switzerland is the gold medalist once again, and that's seven years running, so that's quite an outstanding performance," comments Francis Gurry, Director General of WIPO at the press conference.
Switzerland scores the highest in “innovation outputs”, such as knowledge, technology and creative. The country filed the most patent applications per head to the European Patent Office in 2016, a strong indicator for innovativeness. It also performs well when it comes to human capital and research, infrastructure, market and business sophistication.
“With its favorable business environment and solid innovation capabilities, Switzerland remains highly successful in transforming its resources into more numerous and more varied innovation outputs,” according to the authors of the report. “We continue to learn from the example of Switzerland”, adds Bruno Lanvin from INSEAD.
Are you considering investing in Switzerland? For more information, download our Handbook for Investors.